News
UBS reports further $10 billion subprime writedowns
In its revised fourth-quarter outlook, UBS has changed its prediction for its results from profit to loss. This includes additional writedowns of $10 billion related to US subprime mortgage exposures.
Market reacts to US Treasury subprime plan
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NYSE Euronext to acquire Powernext Carbon
NYSE Euronext has reached an agreement with French energy exchange Powernext to acquire Powernext Carbon, the company's emission permit division, as part of its plan to set up an international carbon market.
US Senate halts progress of energy bill
A package of energy measures passed by the House of Representatives Thursday stalled in the Senate Friday because of opposition to two key provisions.
SIV pain resurfaces through ratings
Moody’s Investors Service has taken negative action on 20 structured investment vehicles (SIVs). The action came as the first part of a sector review started at the beginning of last month by the rating agency.
Rabobank bails out Tango SIV
Rabobank has agreed to take the assets of Tango Finance, a structured investment vehicle (SIV) it sponsors, on to its balance sheet. The Dutch bank plans to do this in early 2008 to prevent a potential fire sale of the SIV’s high-quality assets.
BarCap launches global carbon index
Barclays Capital has unveiled an index intended to be a benchmark for the rapidly growing carbon-trading markets.
Governments must focus on financial crime
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RBS and ABN Amro expect subprime-related writedowns
The Royal Bank of Scotland (RBS) has predicted it will suffer writedowns of £950 million from exposures to US subprime mortgage markets over the second half of this year.
LCHClearnet expands emission clearing services
Clearing house LCHClearnet will expand its OTC clearing services for EU emissions trading scheme carbon credits (EUAs) and introduce clearing for Certified Emission Reduction (CER) contracts from the beginning of 2008.
Barcap launches global carbon index
Barclays Capital has launched a global carbon index, which tracks the performance of carbon credits in major emissions trading schemes.
Standard Chartered takes $46 million profit hit
Market turmoil has dented Standard Chartered’s profits by $46 million, after the bank exchanged $140 million of capital notes for a vertical slice of the assets of its Whistlejacket structured investment vehicle (SIV).
Grosvenor CEO to step down after 20-year tenure
Jeremy Newsum, group chief executive at Grosvenor, has announced his resignation as of June 30, 2008.
BClear extends into Russian and eastern European stocks
London-based derivatives exchange Liffe added various Russian and eastern European equities to its BClear platform on December 5. The platform provides exchange-like clearing to wholesale over-the-counter equity derivatives trades.
More subprime legislation on the way
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New UK money-laundering requirements kick in
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Spain implements Mifid
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UK rejects Italian calls for single EU regulator
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Outsourcing is long-term loss for short-term gain, says study
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